Asra Minerals Confirms High-Grade Gold Intersections at Kookynie and Mt Stirling Gold Projects, Drilling Progresses Ahead of Schedule

Jane Morgan Management

Perth, Australia – 1 October 2024 | Asra Minerals Limited (ASX:ASR) (“Asra” or “the Company”) is pleased to provide an update on its ongoing exploration activities at the Kookynie and Mt Stirling Gold Projects in Western Australia. 

The recently completed reverse circulation (RC) drilling campaign at Kookynie has delivered significant high-grade gold intersections, validating historical drilling and further enhancing resource growth potential. Additionally, drilling activities at Mt Stirling are progressing ahead of schedule.

Highlights:

• Kookynie East RC Drilling Results: Three RC drill holes were completed at the Sapphire, Orion, and Gladstone prospects, each intersecting the targeted mineralised structures.

  • Sapphire (Hole NIC004): 4m at 8.84 g/t Au from 79m, including 1m at 24.7 g/t Au. 

  • Gladstone (Hole NIC001): 2m at 3.18 g/t Au from 57m and 2m at 2.77 g/t Au from 64m. 

  • Orion (Hole NIC002): 4m at 3.12 g/t Au from 67m. 
    
    

• Validation of Historical Drilling: The RC drilling campaign confirmed the accuracy of historical drilling data from 1994, providing confidence in the location of mineralisation and reinforcing the geological model. 

• Diamond Drilling Progress: Diamond drilling is ongoing at the Sapphire mine, with core processing underway for both Sapphire and Orion diamond drill holes. 

• Mt Stirling Drill Program: RC and aircore (AC) drilling is progressing ahead of schedule at the Mt Stirling Gold Project. High-priority anomalies at the Diorite prospect are being tested as part of a 4,000m drill program.

• Aeromagnetic Survey Completed: A detailed aeromagnetic survey has been completed over the Mt Stirling and Kookynie East projects, covering over 19,000 line kilometres. 

Paul Summers, Executive Chairman of Asra Minerals, commented: “We are excited with the results of these maiden drill holes, that were designed to validate and provide confidence in historical drilling and provide valuable structural information from the drill core. The anticipated high-grade lode positions confirm our interpretation, which means we have very high confidence in the validity of historical drilling information at Sapphire, Gladstone and Orion. 

Our drilling program will now continue to systematically extend these known targets including a range of additional resource growth and discovery targets that have been generated from our extensive data review. With multiple exploration programs underway we are pleased to provide Asra shareholders with strong news flow for the remainder of the year.”

Next Steps:

• Continued diamond drilling at Kookynie, with additional resource growth targets to be tested. 

• Completion of RC and AC drilling at Mt Stirling and the release of assay results. 

• Further interpretation of aeromagnetic data to define new drilling targets. 

Paul Summers
Executive Chairman
Asra Minerals Limited
info@asraminerals.com.au

About Asra Minerals Limited:

Asra Minerals Limited is a multi-commodity focused exploration company, targeting a growing gold, lithium and rare earth element (REE) portfolio in the premier Goldfields region of Western Australia. The Company's Mt Stirling Project is located 240 km north of Kalgoorlie and hosts 10 gold prospects, and a gold JORC Mineral Resource.

Jane Morgan 
Jane Morgan Management
Investor & Media Relations
jm@janemorganmanagement.com.au